Culpeper, Virginia Property Taxes
The median property tax rate in Culpeper, VA is 0.46%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Culpeper, the typical annual property tax bill reaches $1,796, falling below the national median of $2,690. Property taxes in Culpeper are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Culpeper's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Culpeper or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Culpeper, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,728
Ownwell’s Culpeper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culpeper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culpeper to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Culpeper, Virginia
Property taxes in Culpeper, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culpeper is 0.46%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Culpeper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culpeper estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Culpeper's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22701 zip code has the highest median property tax rate of 0.46%, while the same 22701 zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Culpeper provides valuable insights into the varying tax landscape across Culpeper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Culpeper Tax Rate
0.46%
Average Culpeper County Tax Rate
0.46%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | 0.46% | 0.46% | 0.46% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Culpeper, Virginia
In Culpeper, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Culpeper County Assessor's Office for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Culpeper, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Culpeper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Culpeper, the highest median tax bill is $1,796 in the 22701 zip code, which is also the lowest median tax bill.
Average Culpeper Assessed Value
$375,700
Average Culpeper County Assessed Value
$394,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | $221,360 | $286,850 | $375,700 | $468,100 | $570,680 |
Source: Ownwell
Property Tax Bills Across Culpeper, Virginia
In Culpeper, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For example, with a median home price of $375,700, homeowners can expect to pay a tax bill that falls between the 25th percentile at $1,381 and the 75th percentile at $2,283. The 90th percentile tax bill reaches up to $2,697. Several factors influence the tax bill, including the home's assessed value, any applicable exemptions, and the local tax rate. Compared to the national median property tax rate of 0.99%, Culpeper's tax rates can significantly impact homeowners' annual expenses. Understanding these factors is crucial for homeowners as it affects their financial planning and the overall cost of owning property in the area. The highest and lowest median tax bill in Culpeper is $1,796, showing consistency across different zip codes within the city.
Average Culpeper Tax Bill
$1,796
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | $1,031 | $1,381 | $1,796 | $2,283 | $2,697 |
Source: Ownwell